Deferred Taxes Flashcards
1
Q
Ifrs deferred taxes
A
Can only be classified as noncurrent
2
Q
NOL is multiplied times the tax rate
A
That is he maximum tax benefit for the year
3
Q
Can only net deferred assets or liabilities from the same taxing authority
A
Under ifrs
4
Q
Must report NOL in the same manner
A
As source of income or loss
5
Q
Life insurance and municipal interest and penalties and related interest are
A
Are both permanent differences
